Needham & Company LLC Reiterates Hold Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Needham & Company LLC in a report released on Monday,Benzinga reports.

Separately, HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals presently has an average rating of "Hold" and an average target price of $2.50.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX traded up $0.03 on Monday, reaching $0.37. 12,941,614 shares of the company's stock traded hands, compared to its average volume of 3,985,907. The stock has a market cap of $90.54 million, a PE ratio of -0.49 and a beta of 1.04. Lexicon Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $2.83. The stock has a 50-day simple moving average of $0.74 and a 200 day simple moving average of $1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. As a group, research analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. BNP Paribas Financial Markets increased its position in shares of Lexicon Pharmaceuticals by 71.2% during the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company's stock valued at $50,000 after buying an additional 13,246 shares during the period. Bayesian Capital Management LP purchased a new position in Lexicon Pharmaceuticals during the 4th quarter valued at about $31,000. RPO LLC bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth about $33,000. Renaissance Technologies LLC purchased a new stake in Lexicon Pharmaceuticals in the fourth quarter worth about $38,000. Finally, Arizona State Retirement System increased its stake in shares of Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,136 shares in the last quarter. Institutional investors own 74.70% of the company's stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.